Every time $BTC ’s 1 to 2 Year Supply rises, its price tends to fall.

It’s a classic and fascinating pattern in on-chain analysis.

Bitcoin has historically resumed its upward trend only when this same metric started to decline.

Being a medium-term holder, roughly someone holding Bitcoin for up to 3 years, has proven to be quite challenging.

The real holders are those who have been holding for more than 4 years.